I purchased my first distressed property in my early 20s.
At the time I had no idea what I was doing. I just happened to be in the right place at the right time, and the deal of the decade fell into my lap.
When I was ready to invest in a second property, I naturally wanted to find another great discounted property deal.
Of course sellers don’t advertise their properties as “distressed” or “below market”.
And the few "deceased estate", "divorce", or "mortgagee" sales I found were already out there, and every Tom, Dick and Harry was buzzing around them in a lather and bumping up the price rather than offering me any discount.
I also discovered that there is no education curriculum that was available in Australia to teach you the ropes on how to locate, buy and sell distressed properties.
So, drawing on my expertise as a lawyer specialising in debt, I developed a repeatable 3 step process for investing in distressed properties in Australia.